landstar drivers

Thats still good rates if the coverage is worth anything.

 

Where's the bco forum? Thanks.

 

Below is my year end financial statement. Subtract $10k for taxes, and another $10k for maintainance escrow.

Hope this will help others considering becoming an o/o.


Re: Financial Statements ? Via Web

John, following you will find your December 2007 monthly financial statement.
The December numbers represent your final financial statement for 2007. They
should agree with Schedule C of your federal income tax return although there
may be some adjustment as additional income tax information is received.
In looking at the December financials, you are showing a Net Profit of $74,087 for
the year-to-date period. This comes out to $0.491 cents per mile and is based
on 151,027 paid miles. High productivity and strong cost control led to an
excellent year. Congratulations!

You averaged 12,586 paid miles per month this year compared with 12,006
monthly miles you averaged last year. You were out on the road 333 days
through the end of December 2007 (91% in service) and averaged 454 miles for
each day you were out.

Your maintenance expense for 2007 was $4,153 or $0.028 cpm and your tractor
supplies expense was $1,724 or $0.011 cpm. Together your variable tractor
expenses end the year a little less than expectations.

Fuel costs averaged $0.428 cpm less fuel surcharge reimbursements of $0.272.
This results in a net fuel cost of $0.156 which is an excellent fuel cost.

Your tractor depreciation expense for 2007 was $18,558 or $0.123 cpm. 2007
was the second year of a four year depreciation schedule for your tractor.

Just curious how my year end net compairs to others. Anyone want to share? If not I understand. I post this info so others can see real numbers, and help them make their own decision about becoming an o/o.

 

what company is this?

 

nevermind, I see ya in the crete forum.

I don't really want to make you feel bad but last year I was a Company driver. I quit my job at the end of august because I moved but had I stayed and you calculate my pay from the previous year I would have made as much as you did at your $75k and I didn't have to have a $10k maintence fund. And I would have worked less than 2/3 as much as you.

You neted $.441 pm after your maintenance escrow. Hmm.. isn't that what Crete pays there company drivers??

 

Never worry about making me feel bad. I love CONSTUCTIVE critisism. It makes me think.

The reason I posted my numbers here was to let others see what I made being leased to a carrier on a mileage bases.

I've been told many times the only way to make money is to lease on a percentage bases. The arguement is not how much you make, but how much you get to keep. With the discounts I get on tractor purchases, fuel, tires, base plates/permits, and truck insurance, I bet I get to keep as much, and maybe more than others leased to Landstar who are hauling van freight. ( I understand there are niches within Landstar where that last statement will not be true, it was`a general statement for the other 99%.)

You are correct that a company driver would have made as much as I did. However, the money in the escrow account is still technically mine until I spend it on truck repairs. Of the 10k I put in escrow last year I did not spend 7k of it. I did not, nor do I plan to touch it, because it would not be a wise business decision in the event of a major repair,which, until the truck turns 500k miles, would be covered under warranty.

The biggest draw-back is medical insurance. Since I have it through my wifes job, it's not a problem for me. However, adding medical insurance to the mix, being a company driver makes more sence.

That being said, I still prefer the freedom to make certain choices that company drivers can not make.

I do not want this thread to turn into a pissing match. It is ment to be, I hope, helpful to others wanting to become an O/O. As well as a way I might be able to network with others who could give me some insight on how I can earn more $$$$$$$$ for less miles.

 

I wasn't criticizing, trust me you would know it. lolI'd be the first person in line for more freedom even if it doesn't come with a raise but tell me honestly, how much freedom do you have? because I've looked at cretes owner op plan and it doesn't seem to me that you really have any. They dispatch you, you may get a few choices but so do the company guys there. Where does the freedom come in? Can you take a month off at home?

Is your fuel discount the reason for that miserable FSC? how does there discount and fsc work?

I only deducted the maintenance fund because you said to.

 

I can go home, and stay there for any amount of time I choose. As long as I make the truck and insurance payments they don't care. However, stitting at home don't pay the bills. That's a fact regaurdless of who you lease to or even if you are independent. Sitting at home for to long leads to business failure. It's the nature of this beast we call OTR.

Crete pays the fuel surcharge only on loaded miles. This weeks fsc is at .41. Discounts on fuel range from .02- .45pg. I've never had less than .055 discount.

Sure I give up some freedom to choose to destination of the loads I pull, but I gain in the ability to have steady miles, i.e. I don't have to sit and wait for the load that will at least allow me to break even so I can move my truck, and guess what, that might mean I will have to go someplace I don't want to.I don't have the headache of looking for and booking those loads. Nor do I have to worry if the customer/broker will pay.

 

So where is your freedom? forgive me but it sounds like a company driver with a truck payment position. I'm glad it works for you, it wouldn't work for me. I'd stay a company driver for that and have health insurance. My problem is I've ran under our own authority and had real freedom so after that anything less is a company job.

27 cents average isn't much of a fsc. how many unloaded miles did you have? or did I miss that part?

 

My deadhead last year was 7%. I was paid .90 for those miles.